In today’s economy, every business executive, owner, CEO and president should be asking themselves one important question: “Do I have the talent to take this business to the next level?”

If the answer is no, you probably want to begin looking, but if the answer is yes, then employee retention should be at the top of your list. With employee retention statistics that prove your best employees may be sitting on your payroll while patiently waiting for the “right” job, you need to be sure that you are managing employee retention with specific individuals in mind and long-term goals in place.

Employees Are Not All Alike
A good manager knows the strengths and weaknesses of their employees, but do they know what motivates them? In employee retention studies, TTI has found that money is NOT the reason most employees leave a job, which seems contrary to popular belief. In our latest study of over 19,000 job seekers, only 19% said money was the reason they were looking for a new job. Instead, more popular reasons included stress, mismanagement, lack of room for advancement and lack of employee development. [ Read More ]

How Assessment Results Boost Retention and Increase Performance

Managing employee retention is one of the biggest challenges many companies face. With so many employee retention strategies out there, it is often difficult to determine which one will work for you, your company and more importantly, your employee. The good news is, improving employee retention doesn’t have to bee as hard as you might think, but it must be something that is a concern from day one, not when you start to feel an employee slipping away.

When you consider the employment cycle from beginning to end, it is apparent that training and on-boarding is the most crucial aspect of retention. A company can hire the best candidate who is destined for success, but it is up to the employer to give them the training, attention and motivation it takes to build a dedicated superior performer. Without it, the employee is not likely to build a strong connection with their new employer and will quickly feel under-appreciated, unimportant and simply lost in the shadows of the organization.

A lot of effort should go into creating the appropriate material for a new hire and the manager should schedule enough time to properly facilitate the on-boarding process. Too often, an employee shows up for the first day to an empty desk, gets a tour of the office, meets their co-workers and is back at their empty desk with a handbook to read. Meanwhile, their manager is tending to daily responsibilities and tied up in meetings, checking in with the new employee just before the drive home. A more successful approach would be to present the new employee with training materials that provide everything he or she needs to know in order to understand exactly what is expected for success on the job, in addition to educational material and corporate policy guidelines. [ Read More ]